US stocks close higher led by tech shares

2020-07-08 20:55:50 GMT (Economies.com)
US stocks close higher led by tech shares

US stock indices rose Wednesday, as the tech sector rebounded, which lifted Nasdaq near a fresh record high and Dow Jones to close above the 26,000 barrier again.

 

New cases of Covid-19 virus reached 60,000 confirmed cases in the US today, the largest daily increase since the start of the crisis.

 

Many states called for another lockdown restrictions to contain the spiking infection rate, which can severely impact economic activity.

 

White House chief economic adviser Larry Kudlow said that reimposing coronavirus-restrictions is a "big mistake" and another lockdown would be very harmful for the US economy, but also stated there's no evidence on a deep recession.

 

While US President Donald Trump called for schools to reopen this fall and threatened to cut support.

 

To the oil market, West Texas Intermediate crude rose 0.7% to close at $40.90 a barrel, after it hit an intraday high of $41.08 and a low of $40.3.

 

Brent rose 0.5% to $43.29 a barrel, with a high of $43.4 and a low of $42.7.

 

As for stocks, Dow Jones rose 0.7% or 177 points to close at 26,067, with a day high of 26,109 and a low of 25,816.

 

Nasdaq rose 1.4% or 148 points to close at 10,492, after hitting a high of 10,494 and a low of 10,350.

 

S&P 500 added 0.8% or 24 points to 3,170, with today's high at 3,171 and a low of 3,136.

 
 
 
  Symbol Last Change Chg.%
1.1756
0.0046
0.3915%
1.3068
0.0053
0.4099%
Tadawul
7459.21
4.14
0.06%
24.285
0.037
0.155%
41.180
0.745
1.843%
44.30
0.78
1.79%
1971.925
2.570
0.131%
 
 
US
 
Europe
 
Asia